Hong Kong apparel retail sales inch up 7.6% in Nov'13

06 Jan '14

2 min read

Apparel retail sales in Hong Kong showed an increase of 7.6 percent year-on-year in November 2013, according to the statistics released by the Census and Statistics Department (C&SD), Government of Hong Kong Special Administrative Region.

The value of overall retail sales, including apparel retail sales, in November was estimated at HK$ 39.6 billion, showing a rise of 8.5 percent year-on-year. In terms of volume, the total retail sales increased by 9 percent year-on-year during the month, the data showed.

The total retail sales grew by 6.3 percent year-on-year in value and 5.9 percent year-on-year by volume in October 2013, according to the revised estimate for the month released by the C&SD.

From January to November 2013, the total retail sales in Hong Kong increased by 11.6 percent in value and 11.1 percent in volume over the same period a year earlier.

Based on a seasonally adjusted series, the volume of total retail sales increased slightly by 0.2 percent in the three months ending November 2013, compared with the preceding three-month period, the C&SD said in a press release.

The total retail sales cover consumer spending on goods but not on services. Moreover, they include spending on goods by visitors in Hong Kong but not by Hong Kong residents outside Hong Kong.

A Hong Kong Government spokesperson noted that retail sales picked up to show a faster year-on-year growth in November 2013, largely thanks to the positive consumer sentiment and further expansion of inbound tourism.

The spokesperson added that looking ahead, the stable job and income conditions and sustained growth of inbound tourism should continue to support the retail business in the near term.

“However, we need to closely monitor the external economic developments, which may affect consumer sentiment and hence retail business down the road,” the spokesperson added.

Fibre2fashion News Desk - India